Economy & Policy

Planet Budapest 2021: Sustainability is a turning point for business

The joint sustainability event of the Visegrad countries will be held in Budapest.

The growth of the development of sustainability technologies could reach 25 percent per year by 2030. Today, more than 50 percent of investors around the world take environmental, social and corporate governance considerations into account in their financial investment decisions. 

One of the focus points of the Planet Budapest 2021 Sustainability Expo and World Meeting is to show that sustainability is now not only a challenge but also an economic opportunity, well-illustrated by the fact that 92 percent of institutional investors in Europe link their business decisions to sustainability policies.

Between November 29 and December 5, 2021, a joint sustainability event of the Visegrad countries will be held at Hungexpo.

The aim of the Planet Budapest 2021 Sustainability Expo and World Meeting, organized by the Ministry of Foreign Affairs and Trade, is to provide an inspiring medium for political, economic, financial and scientific actors to engage in dialogue and seek solutions. 

The expo will present innovative and sustainable technologies to the general public that can simultaneously shape the everyday life and business of the future.

According to research commissioned by Planet Budapest 2021, 43 percent of Hungarians would be willing to spend more on environmentally friendly products.

The topic is of particular interest to Hungarian society, and many would like to do even more for sustainability. That is why we want to present the complete set of tools needed for this. We would like to point out that these solutions do not necessarily lead to the cancellation or loss of our usual comforts, but they can also result in significant cost savings for families and households, István Joó, State Deputy Secretary and Government Commissioner responsible for Planet Budapest 2021, stressed.

Sustainability has a significant macroeconomic weight as well. The value of environmental protection expenditures alone exceeds HUF 735 billion per year in Hungary, and the number of people working in the environmental industry now reaches 42,000 people.

The global numbers are also noteworthy; the sustainability turnaround could create 24 million new jobs worldwide by 2030. Among other things, areas such as carbon-footprint reduction technologies, solutions to help develop sustainable cities and water treatment processes are expected to play an important role in the economy of the future.

Despite the encouraging figures, the sustainability turnaround will only be successful if we can improve our environmental performance while also giving the economy further impetus. The value of Hungarian environmental exports can be multiplied within a few years by appropriate innovation and the involvement of investor capital, Joó emphasized.

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